News

The IRS recently finalized mandatory regulations to distinguish capital expenditures from supplies, repairs, maintenance, and other deductible expenses – commonly known as the Repair Regulations.

Advocates for low-wage workers applauded a decision by Wal-Mart Stores, the biggest private-sector employer in the U.S., to establish a $9 hourly minimum wage, $1.75 above the federal minimum wage, for almost 40% of its U.S. employees. The action could […]

The Financial Accounting Standards Board and International Accounting Standards Board agreed Wednesday to propose revisions to the language of their converged revenue recognition standard. Some financial statement preparers have asked for additional guidance to aid their implementation.

Companies continue to struggle to integrate risk oversight efforts with strategic-planning processes, according to a new survey. Senior finance executives say their organizations are often not in alignment about the need for structured enterprise risk management, a survey on behalf […]

U.S. District Judge Andrew Hanen in Brownsville, Texas, temporarily blocked the federal government from implementing President Barack Obama’s executive order protecting millions of undocumented immigrants from deportation. The judge said the administration failed to meet requirements of the Administrative Procedure […]

The Financial Accounting Standards Board has made tentative decisions on certain disclosures it plans to require related to income taxes, with a focus on undistributed foreign earnings. The board is attempting to simplify financial reporting by streamlining disclosures.

President Barack Obama will sign an executive order today that will make it easier for the government to share classified information about cyberthreats with companies. Under the executive order, the Department of Homeland Security would approve arrangements to share classified […]

The U.S. labor market is tightening to the point where economists are predicting that “structural frictions” will lead to wage increases this year. In the Labor Department’s most recent employment report, average hourly earnings increased 2.2%, suggesting that wages have […]

Former Sens. Bob Packwood and Bill Bradley, both of whom played key roles in the 1986 tax code overhaul, testified before the Senate Finance Committee about the lessons they learned and how lawmakers should now proceed. “The only way it […]